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100 Companies hold the key to global greenhouse gas emissions - 10th July

Fossil Fuels

The key to cutting global greenhouse gas emissions could be helped by just 100 companies. These 100 companies are the source of more than 70% of the worlds pollution and emissions since the late 80’s, according to a new report.

The Carbon Major Report, which was produced by the CDP in collaboration with Climate Accountability Institute. The CDP technical director said the report “pinpoints how a relatively small set of fossil fuel producers may hold the key to systemic change on carbon emissions.”

Large scale greenhouse gas emissions data is usually collected at a national level but the Carbon Major Report focuses on the fossil fuel producers. Compiled from a database of publicly available data, it is intended to be the first in a line of reports highlighting the role companies and their investors can play in the fight against global warming.

The report found that more than half of global industrial emissions since 1988 can be traced to just 25 corporate and state-owned entities. The scale of emissions during the period associated with these fossil fuel producers is large enough to have contributed significantly to climate change.

The highest investor owned emitters have been identified as Exxon Mobil, Shell, BP and Chevron. The report states that if the trend as seen between 1988 and 2017 continue, then global temperatures will rise by 4C by the end of the century. This will have terrible consequences including extinction of species and global food epidemics.

CDP says its aims with the carbon majors project are both to improve transparency among fossil fuel producers and to help investors understand the emissions associated with their fossil fuel holdings.

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